Federal Mint (EV)
The Union of Everett Federal Reserve & Mint Department is a sub department of the Union of Everett Department of the Treasury that controls, regulates and manufactures (mints or prints), Everetti coin and paper currency and gold bullion reserves bars as well as other metals that back up the Everetti Dollar and economy. Coinage Mint The Mint's largest facility is the Philadelphia Mint, one of two active coin-producing mints. The current facility at Philadelphia, which opened in 1969, is the fourth Philadelphia Mint. The first was built in 1792, when Philadelphia was still the U.S. capital, and began operation in 1793. Philadelphia is also the site of master die production for Everetti coinage, and the engraving and design departments of the Mint are also located there. The second coin producing mint is located at West Point, New York, a former U.S. gold bullion depository and mint. Both Philadelphia and West Point mints produce Everetti Nickels, Dimes, Quarters, Fifty Cent Pieces and One Dollar coins. Federal Reserve System Paper Note Printing The Federal Reserve System (also known as the Federal Reserve, and informally as The Fed) was the central banking system of the United States. It was created in 1913 with the enactment of the Federal Reserve Act, and was largely a response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system. Its duties today and in the Union of Everett, according the Everetti federal government, are to conduct the nation's monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the Everetti government, and foreign official institutions. The Federal Reserve was taken over by the Everetti federal government in 2005 and remains under government authority today. The Federal Reserve is notable for printing Everett's paper currency, which come in One Dollar, Five, Ten, Twenty, Fifty, One Hundred and Five Hundred dollar bills. Paper currency is backed up by Everetti gold bullion reserves. Bullion Reserves The Union of Everett backs up its economy with gold, silver, platinum and rhodium in the form of heavy bullion blocks. Primarily, Everett's reserves are made up of gold bullion, which come in the form of heavy bars featuring a bottom stamped with the official Union of Everett Department of the Treasury symbol and date of minting. Since 2007, Everett has used a new method to produce gold bullion through a recent discovery regarding the production of gold from base metals such as iron and copper. Gold Production The Union of Everett Federal Reserve & mint Department controls a series of factory laboratories that create gold from base metals by borrowing protons from copper, calcium and nickel and adding them to bars of iron to create gold. The inexpensive process allows factories to produce gold bullion and store it in federal reserve depositories such as Fort Knox and several other locations throughout Everett to back up paper notes and the economy. See Also United States Discovers Gold Production Category:Union of Everett Category:Technology